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Archives by Year:
Copper Market Commentary – Thursday, May 30
Copper Sell-Off DeepensThe correction in copper prices continues as we head towards the weekend. Copper futures are now down more than 11% from the record highs seen just a week ago. The key driver behind the move has been the uptick in the US Dollar we’ve seen in response to a slew of hawkish Fed […]
Traders Further Lowered Their Expectations For A Fed Interest Rate Cut This Year
At Tuesday’s close, the Dow Jones Index (US30) decreased by 1.06% and fell to a 3-week low. The S&P 500 index (US500) was down 1.06%. The NASDAQ Technology Index (US100) closed negative 0.58%. Stocks declined amid rising bond yields driven by hawkish remarks from Fed officials. On Wednesday, Atlanta Fed President Bostic said that the path to 2% inflation is not guaranteed and that […]
VanEck Semiconductor ETF Stocks Elliott Wave Technical Analysis – Thursday, May 30
SMH Elliott Wave Analysis Trading Lounge Daily Chart,VanEck Semiconductor ETF (SMH) Daily ChartSMH Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor 5.DIRECTION: Upside in Minor 5 DETAILS: We have hit Medium Level at 250$, looking for a potential wave {iv} of 5 to start moving sideways. SMH Elliott Wave Analysis Trading Lounge 4Hr Chart,VanEck Semiconductor ETF (SMH) 4Hr ChartSMH […]
Eurozone Economic Optimism Confirmed As Unemployment Drops Further In April
The economy seems to have recovered further in the second quarter, with unemployment falling. We expect continued economic growth but expect employment gains to be limited as productivity is set to recover. depositphotos Economic sentiment improved in MayThe eurozone economy is showing more signs of picking up as the manufacturing sector seems to be bottoming out while […]
General Electric Is A Dividend Growth Stock Again
General Electric (GE) was the quintessential dividend growth stock in the 1990s. It likely made many millionaires through price appreciation and a rising payout. Eventually, the company ran into problems during the subprime mortgage crisis and the Great Recession. depositphotos Today, GE is an aerospace company focusing on commercial and defensive markets. It divested the healthcare and power businesses. […]
Brent Crude Oil Declines Again
The commodity market, struggling to maintain its upward momentum, frequently slips into sell-offs. On Thursday, the price of Brent crude oil fell to 83.60 USD per barrel.On Wednesday evening, Brent lost almost 1% of its value due to expectations regarding lending costs. Market discussions revolved around the possibility that the Federal Reserve’s interest rates could […]
Will Fed’s Preferred Inflation Gauge Tick Lower In Friday’s Update?
Tomorrow’s update on US inflation for April looks set to tick lower, although the odds aren’t trivial that pricing pressure will remains sticky, according to various forecasts and a review of pricing trends published to date. Disinflation is still intact, based on numbers in hand, but the report scheduled for Friday, May 31, will probably […]
Dollar Pulled Back In Europe. New Buying Opportunity?
Overview The dollar initially extended yesterday’s North American recovery but unwound most of the gains in the European morning. As North American dealers return, the greenback is lower against most of the G10 currencies. depositphotos After approaching levels believed to have been where the BOJ last intervened, profit-taking pushed the dollar back to a marginal new low for […]
Downward Momentum For New Home Sales Reasserts Itself
After the preceding month’s better-than-expected numbers, the number of new home sales in the U.S. fell in April 2024. Worse, the estimated number of new home sales for January through March 2024 was revised downward.Not uncoincidentally, the median and average sale prices recorded for new homes in those months was revised upward. The overall trend over […]
EUR/JPY Forecast: Euro Pulls Back From High Against Yen
The euro initially tried to rally a bit during the trading session on Wednesday, but then fell a bit as we continue to see a lot of noisy behavior around the world. Keep in mind that a lot of this is being driven by interest rates and the bond markets. The Japanese interest rates did […]
